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Who do you use for personal Equipment insurance?


Chase Yeremian

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I checked out filmins and got a quote for over $500 total (including $125 broker fee *sigh*) to cover $10,000 in gear. That seems a little steep to me, but I'm assuming the broker fee is a one time thing and not factored into yearly cost. But it's the same price for gear up to $29,000 so I can expand my set without increasing premiums.

Precisely. You can grow into a much larger rig without a premium bump. And just remember, you're working less than one day a year for safety in the event of L&D.

It's literally the difference between you going out of business or staying in business if something happens.

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  • 3 months later...

Question: Are people taking the 10% discount by waiving unlocked vehicle coverage? When it's my car, I always lock my doors. I have a remote that locks the doors and I hear the horn beep. I have always lived in a city, so even if I run into a 7-11 for a drink, I will lock the doors. If I was on a job and a PA was in charge of a cargo van without remote locks, then it should be their insurance anyway. 

 

It doesn't seem like a lot of people have had to make claims, but I wonder if the 10% off is worth it if there is ever a question of how somebody broke into the vehicle. If I remember right, the people here that made claims were gear lost in shipping, or maybe a storage unit/garage that was broken into. 

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I actually decided not to take the 10% discount and kept the coverage. There are many times that equipment could be in an unlocked car- say during a load in / out. If it's my own personal vehicle then most likely I'll lock it, but there have been times when my gear has been in someone else's vehicle and I have no idea if the person responsible for the car has locked it. Productions of course should have L&D cover, but at least I know that I'm covered if for some reason the production fails to meet it's own insurance obligations. 

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Way back in the last century I used Dewitt Stern- at some point they turned into Heffernan and were just as good as the original. I had a small claim with them and they handled it perfectly. Then about 6 years ago I had a pretty substantial claim with Heffernan and they [Kat Wong] handled my claim- she/they were great. But then a couple years ago (roughly) Heffernan changed into what I'd call an "E-merchant". Seemed like there were no more humans there. I heard from a friend that Sarah Legan- my agent way back at Dewitt Stern- was now at John Hart Insurance so I contacted her and changed my policy over to her/them. She's every bit as great as she was
at the old company. The change over happened with minimal hassle and my rate actually dropped a bit. 

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yeah Heffernan now has this, once you log in : "Please note: Due to increasing demand for our online insurance programs, we will no longer be able to respond to inquiries made via telephone effective February 1, 2013." 

 

They say emails will be answered in 24-48 hours. I emailed them Friday after hours, so I can't really start the clock until Tuesday. It was just a policy question and not something mission critical. Considering how few of us seem to have ever actually made claims, maybe it's ok they became very computerized. They say business is up to the point that they can't handle the phone calls, so hopefully this increased business, and computerized policy issuing, means prices will be kept down. 

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  • 4 weeks later...

" They say business is up to the point that they can't handle the phone calls, so hopefully this increased business, and computerized policy issuing, means prices will be kept down. "

Keep in mind: I believe the way most insurance coverage works the agency-agents we deal with do not set the rates, or actually underwrite the coverage.

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I currently have Heffernan. Scott Farr pointed out that USAA has business and equipment insurance now and it seems to be a great deal if you qualify for USAA. They are an outstanding company. There customer service is incredible, they want to help you. We have most of our personal banking, insurance and investments with them. I am considering changing.

 

Whit

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Has anyone looked into 'Music Pro' ASCAP? It sounds as if their qualifications for a music professional could easily include our daily work activities, though I happen to write and record music as well. A few studio guys I occasionally work with swear by it for equipment insurance, even using their website to find low cost health insurance. It sounds as if they cover every possible scenario of loss, theft for a reasonable price. Quick quote from web calculator was 700/y for 60k $100d per claim. Does anyone have experience with them? Thanks.

I've used them for more than a decade now.  I met a rep at an ASCAP meeting and took it from there.

 

I use Music Pro insurance. Online application was great, no claims experience. $300 for $30k coverage.

I don't like thier online inventory form but it's very easy to get a quote and then talk to a rep.

 

I've had a policy with MusicPro for a while now. Fortunately I've never had to make a claim, so I can't comment there, but I like the pricing structure. Essentially you just pay a sliding scale based on what you value your gear at. The premium is about 1% of your total gear value per year. 

Did make a claim and it was very painless.  Reported the incident  gave a serial number for the item, and I believe I may have gotten a check before I even provided a copy of the police report.  Also, that was about three years ago and I cannot see a change in my rates.

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  • 3 months later...

I am looking for a new policy.  I got referred to a broker from a friend in the sound world.  This broker is offering good rates.... Around $800 for $85k in scheduled insurance ($500 deductable)... or $1300 for the same scheduled list as a "rental company"($1000 deductible).  He explained to me that my current policy and the cheaper policy he offered will not cover the gear while it is being rented to a production.  He recommended getting the more expensive policy as it would cover it all the time.  Most companies I work for are definitely gonna be covered, and I assume wouldn't give me a hard time making a claim, but it seems nice to be always covered.   Are you guys covered by your own insurance while out on the job?

 

I've looked at some other quotes to get unscheduled insurance, with a lower total, as I would doubt 100% loss.   But its hard to tell if they would cover me while its being "rented to a production".  Insuremyequipment.com specifically asks if "I verify that the policyholder I am applying for is NOT primarily in the business to lease and/or rent out equipment to the sole custody of others (i.e. similar to a Rental House). "Primarily" means majority or over 50% of the policyholder's business operations." 

 

Thoughts on this are appreciated. 

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" NOT primarily in the business to lease and/or rent out equipment to the sole custody of others "

that is rental house, we rtpically rent our equipment but still maintain "custody", eh?

Agreed... which is why I am bothered by a few brokers implying I am not 100% covered all the time.  If there is a problem with a productions insurance, I would hate to be SOL.  

 

Exchanged some emails with a broker from Insuremyequipment.com and he asked me "Does the revenue generated by renting your equipment exceed 25% of the total revenue generated by your use of the equipment?"

 

That really just bothers me as its a different question then is on the website.... and I would say that 100% of the money I generate by use of my equipment is by renting it to the company that hires me...

 

If he is asking about total revenue I make personally.... I easy make as much in gear rental as I do in hourly wages.... 

 

Its strange to me the abstract explanations I am getting from different brokers when I assume this is the common type of insurance folks like us need.  Also, its really only been an issue because ONE broker mentioned it, and then when I started asking other brokers its became a *possible* issue. 

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  • 4 weeks later...

I read these posts a few years ago and went with Heffernan Insurance. I added home security last year and wrote them, they said my premium would be $100 less for the year and would send a refund check in 4 to 6 weeks, that refund check never arrived. This year, I got a total business policy through Farmers and wrote them asking to cancel my policy. I have been contacting them monthly for nearly 4 months now and still have not received my refund check. I was told each time that I should receive the check shortly then; someone left the company and a few refunds got lost and it would be resubmitted. Now I am told that person, or people were, "not particularly responsible or organized." Followed by yet another apology with this, "It's unfortunate that your situation devolved into a case study..."
I never needed to make a claim, but I'm guessing getting a check for a claim might have met similar delays. I felt as if they hoped that I would just forget about the money eventually. 

This is just one person's ... my experience, but I wanted to let you all know. I'll also let you know when I finally get the check.

 

Chad

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I was with Hartford for a while, then went to CNA, and now back to Hartford (my local agent who deals with my homeowners policy shops around for me.)

The 3 policies I've had have all been pretty similar though... this time around, it's $1200 annually for pretty extensive coverage on $150k w/ a $100 deductible.

Yeah, touch wood - hope I never have to file a claim, at $100/month, it's worth the peace of mind.

~tt

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  • 2 weeks later...

I read these posts a few years ago and went with Heffernan Insurance. I added home security last year and wrote them, they said my premium would be $100 less for the year and would send a refund check in 4 to 6 weeks, that refund check never arrived. This year, I got a total business policy through Farmers and wrote them asking to cancel my policy. I have been contacting them monthly for nearly 4 months now and still have not received my refund check. I was told each time that I should receive the check shortly then; someone left the company and a few refunds got lost and it would be resubmitted. Now I am told that person, or people were, "not particularly responsible or organized." Followed by yet another apology with this, "It's unfortunate that your situation devolved into a case study..."

I never needed to make a claim, but I'm guessing getting a check for a claim might have met similar delays. I felt as if they hoped that I would just forget about the money eventually. 

This is just one person's ... my experience, but I wanted to let you all know. I'll also let you know when I finally get the check.

 

Chad

Finally got a check after 4 emails and 4 and a half months of waiting! I think posting here may have finally done the trick.

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Hey all,

I'm in the midst of trying to find proper insurance. I've talked to my insurance agent and he says "the unattended vehicle" exclusion is almost always present nowadays. I know people have mentioned that whether the car is locked or not matters, but I can't even find coverage for unattended vehicles at all. Any advice?

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" I know people have mentioned that whether the car is locked or not matters, but I can't even find coverage for unattended vehicles at all. "

the difference is that if there is no sign of forced entry (unlocked), it is "mysterious disappearance", and if there is forced entry (broken window) if is burglary.

As you should imagine, the former is more costly, and harder to underwrite.

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d he says "the unattended vehicle" exclusion is almost always present nowadays. I know people have mentioned that whether the car is locked or not matters, but I can't even find coverage for unattended vehicles at all. Any advice?

 

Leave the windows down and a large attack dog in the car? 

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  • 8 months later...

Most of the folks in Seattle use Midlakes Insurance. They specialize in Inland Marine coverage which is what our work falls under. Dave Peterson is the man! He'll get into the nitty gritty details over the phone if you want and he's happy to do it. 206-352-8300. I pay around $500 for $40,000 worth of coverage.

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